AI risks to global financial stability

The article discusses the risks posed by the development of advanced artificial intelligence to the global financial system, especially in the cyber domain. The Governor of the Bank of England and the Chair of the Financial Stability Board emphasized that AI increases both the speed and cost of cyberattacks, complicating the risk landscape by reducing the time available to exploit vulnerabilities. They also highlighted that institutions relying on a limited number of providers facilitate the spread of impact if one provider is targeted. Other risks include rising asset valuations, increased leverage, and weakened government bond markets, all of which could trigger a sharp correction in financial markets. These challenges are compounded by regulatory issues, as supervisory bodies work on establishing responsible AI usage guidelines, focusing on the need to strengthen response and recovery capabilities within the financial sector. As AI adoption and model complexity grow—potentially weakening control—there is an increased risk to financial stability.

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